SINGAPORE: The Middle East crude market weakened for a second consecutive session on Tuesday as trade for July-loading cargoes slowed at the tail-end of the trading cycle.
Cash Dubai widened to 59 cents below swaps, down 3 cents from the previous session.
RUSSIA
Surgutneftegaz issued a tender on Tuesday to sell three 740,000-barrel cargoes of ESPO Blend crude for loading over July 20-24, 24-28 and 27-31. The tender closes on Wednesday.
*The Russian producer awarded a separate ESPO Blend sell tender this week at premiums between 65 cents per barrel and $1.05 per barrel to Dubai quotes. The two cargoes that are due for loading in the first half of July were done at the lower end of the range, while the cargo due for loading later in the month was done at the higher end of the range, trading sources said.
WINDOW
JULY DUBAI PARTIALS: Chinaoil bought all 28 July Dubai partials traded on Tuesday, traders said. Unipec will deliver an Upper Zakum crude cargo to Chinaoil, while Reliance will deliver a cargo of Al-Shaheen crude to the Chinese oil firm following the trades. This brings Chinaoil's total purchases from the window to 20 cargoes so far this month - 13 Upper Zakum, five Al-Shaheen and two Oman crude cargoes.
MURBAN: Totsa offered the Abu Dhabi crude grade at $51.90 per barrel but the offer did not attract any bids.
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